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Coffee, Tea, and Bartending Products Market Trends

Report ID: GMI12064
Published Date: Oct 2024
Report Format: PDF

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Coffee, Tea, and Bartending Products Market Trends

The global coffee, tea, and bartending products industry is growing significantly due to changing consumer preferences and lifestyle trends. Consumers now prefer specialty beverages and artisanal drinks, which has increased the demand for advanced brewing equipment, premium tea sets, and professional bartending tools. The focus on health and wellness has also boosted interest in organic and specialty teas. Additionally, the rise of premium coffee culture has led to more people using sophisticated brewing methods at home. The "home mixology" trend has further popularized cocktail-making equipment, as consumers want to recreate bar-quality experiences at home. However, concerns about sustainability and single-use products are driving a shift towards eco-friendly alternatives.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for coffee, tea, and bartending products was valued at approximately USD 2.4 trillion in 2023 and is expected to reach around USD 3.85 trillion by 2032, driven by a CAGR of 5.4% from 2024 to 2032.

The offline segment accounted for 65.7% of the total market share in 2023 and is expected to grow at a CAGR of 5.3% over the forecast years, driven by consumers' preference to physically interact with products before purchasing.

The U.S. held an 80.1% share of the total North American market in 2023 and is expected to grow at a CAGR of 5.3% during the forecast period, driven by changing consumer preferences for premium, artisanal, and health-focused beverages.

Major players in the industry include Associated British Foods, Bacardi, Beam Suntory, Brown-Forman, Diageo, Hain Celestial, Illy, Ito En, and JAB Holding.